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Greece’s Folli-Follie rising profits March 13, 2008

Posted by grhomeboy in Business & Economy, Fashion & Style, Shopping.
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Jewelry and accessories retailer Folli-Follie said yesterday profits rose 12 percent in 2007 after it gained control of Elmec Sport in October.

Net income increased to 72.7 million euros from 65.2 million in 2006, on sales growth of 46 percent to 706.2 million euros. Japan and other Asian nations accounted for 62 percent of total sales last year.

Folli-Follie owns Greek airport retailer Hellenic Duty Free Shops, which said separately net income reached 33.5 million euros last year as sales advanced 38 percent to 414 million. Elmec Sport, which is 94 percent-owned by Hellenic Duty Free, had net income of 14.2 million euros last year, according to the statement.

Related Links > http://www.follifollie.gr/gr/Home_new.htm

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